HIT THE 57

4 years ago

Buffett’s Berkshire Hathaway to Buy Heinz

Historic Heinz factory sign in Pittsburgh. (Chris Hondros/Getty)

One of America’s most successful investors went shopping again this week—this time in the food section. Warren Buffett’s massive conglomerate Berkshire Hathaway has reportedly teamed up with Brazilian investment firm 3G Capital to buy ketchup empire H.J. Heinz for $28 billion. Speaking to CNBC, Buffett expressed excitement about the deal. “Heinz is our kind of company with fantastic brands,” he said. Heinz shareholders will receive $72.50 cash for each share of common stock they own—a 20 percent premium of Heinz’s closing price of $60.48. You say tomato, Warren Buffett says ... whatever he wants.